Prospect Park, issued a statement today about the future of ALL MY CHILDREN and ONE LIFE TO LIVE saying it is "in the process of working out the essential terms of our proposed collective bargaining agreements with the appropriate guilds and unions," which needs to be done before other plans can go forward.

Read the Prospect Park statement below:

The love and support for ALL MY CHILDREN and ONE LIFE TO LIVE is truly amazing. Since we announced our intention to work with the shows, the fan outreach we’ve experienced over the past few weeks further validates our decision to work to keep them going for years to come. However we also respect the organizations and processes that are in place so that all can apply their craft within the infrastructure that the entertainment industry has set, specifically in this case with the appropriate guilds and unions.

We are in the process of working out the essential terms of our proposed collective bargaining agreements with the appropriate guilds and unions, which we must do prior to firming up deals with above- and below-the-line talent. We will provide updates as needed.

The announcement came on the day that Prospect Park heads Rich Frank and Jeff Kwatinetz met with ALL MY CHILDREN cast and crew on-set for the first time since publicizing their future plans for the series.

Deadline Hollywood speculates this could delay AMC's relaunch until Q1 of 2012. The New York Times says "several months". The Los Angeles Times believes that Prospect Park probably would also have to find new homes to shoot the soaps. ABC is planning on using the New York set of ONE LIFE TO LIVE for its Katie Couric talk show launching next year.

If the union issues can be worked out before OLTL leaves ABC, the delay for that soap could be less. Stay tuned.

I sm very THANKFUL for PROSPECT PARK INC. I AM WILLING TO WAIT AS WELL AS PAY TO HELP THEM. I AM A HUGE SOAP FAN FOR OVER 48 YEARS AND I AM NOW 50THANK YOU PROSPECT PARK! I LOVE YOU FOR THIS! THE STUDIO ON AVENUE M and EAST 14th STREET IN BROOKLYN, NY IS AVAILABLE..USED TO BE HOME TO ANOTHER WORLD AND THEN GUIDING LIGHT (I THINK) AND FINALLY, AS THE WORLD TURNS.I THINK THEY SHOT THE COSBY SHOW THERE AS WELL..ALSO, PERHAPS ABC WILL WORK OUT THE USE IF THE OLD AMC/OLTL STUDIOS.LET'S GET IT DONE AND THEN WE HAVE TO EXPLAIN TO THE SENIORS JUST HOW TO GET THEIR SHOWS ON THE INTERNET, I THINKJ THERE WILL BE T.V.'S THAT CAN GET THE WEB AND SO IT WILL BE EASY. I ALSO THINK THAT WE WILL BE ABLE TO WATCH THE SOAPS AT OUR CONVENIENCE. I DO THAT NOW WITH THE DVR. I NEVER WATCH ANYTHING WHEN IT'S ON.I WATCH ALL SHOWS ON DVR SO I CAN SKIP THE LOUD AND OBNOXIOUS COMMERCIALS.THANK YOU AGAIN!ROBIN ZARZANA

I am so HAPPY POSPECT PARK is picking up these soaps! They appreciate the fan base, unlike ABC that has delivered us a slap in the face! I plan to watch nothing on ABC. As if there was anything to watch! Definitely not "The Chew" and definitely not another talk show, with Katie Couric? That ship has sailed and will sink. Seriously ABC?

Happy "AMC" and "OLTL" fan! Not a Fan of ABC! Thank you PROSPECT PARK!

I just hope that PP will make it so that you can watch AMC anytime on the net. A lot of people I know recorded AMC because they have to work so I hope since it will be online you can watch anytime...Can't wait to see what happens next on AMC!

Prospect Park: Please do not give up on your negotiations for AMC and OLTL! You will find a huge fan base out here that will do anything, go anywhere on cable or web to continue to see their favorite shows.

OLTL is just getting good again with the reintroduction of the old Todd, Tina returning and the Gigi thing.

AMC is always great!

And if you want to re ignite PASSIONS, we would love it, too! That show was HILARIOUS!